The exchange rate of the Pakistan rupee dropped against the UAE dirham for a third session on Wednesday, making rates favourable for remittances in the UAE.
On Wednesday, the currency was at Rs48.79, with the value dropping by about 20 paise from Rs48.60. This comes a day after the exchange rates of the Pakistan rupee against the UAE dirham depreciated by 6 paisas. Check the latest forex rates here.
The currency weakened by 23 paisas against the US dollar in the interbank trading and closed at Rs179.21 against the previous day's closing of Rs178.98. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs179.8 and Rs180.8 respectively.
Weakness in the Pakistan rupee's value against the US dollar will be automatically reflected in its exchange rate with the UAE dirham as the UAE currency is pegged to the dollar.
Similarly, the value of the rupee against the euro depreciated by 98 paisas and closed at Rs197.22 against the previous day's closing of Rs196.24. An increase of .09 paisas was witnessed in the exchange rate of the British pound, which was traded at Rs233.64 as compared to its last closing of Rs233.55.
Third day of losses
Exchange rate of the Pakistan rupee weakened by 49 paisas against the US dollar in the interbank trading on Monday and closed at Rs178.98 against the previous day's closing of Rs178.51.
The exchange rates of UAE dirham and Saudi riyal depreciated by 12 paisas to close at Rs48.72 and Rs47.70 respectively.
According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market were recorded at Rs178.8 and Rs179.9 respectively. Similarly, the price of the rupee against the euro depreciated by 38 paisas and closed at Rs196.24 against the previous day's closing of Rs196.62.
The Pakistan rupee, against the Japanese yen, lost 01 paisa to close at Rs1.51, whereas a decrease of 08 paisas was witnessed in the exchange rate of British pound, which was traded at Rs233.55 as compared to its last closing of Rs233.63.
- with inputs from APP
